Starbucks's visionary CEO Howard Schultz stepping down

Friday, 2 December 2016*Starbucks Chairman Howard Schultz, credited with taking the company from small beginnings to an international behemoth, is stepping down as CEO to focus on new high-end coffee shops, handing the reins to Chief Operating Officer Kevin Johnson. Schultz, 63, will continue to serve as chairman of the Board and will be appointed...

According to the coffee chain on Thursday, Starbucks Chairman and CEO Howard Schultz will step down as the company's chief executive. Starbucks added in a statement that current President and COO Kevin Johnson will become its next CEO while Schultz will transition to executive chairman. The changes...